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Another positive factor is that with more electric vehicle startups tapping into the Chinese market, traditional manufacturers are facing fiercer competition and increasing their investment on product research and development. Global carmakers are also making efforts to promote the development of electrification.

Another important task for the province is to build close ties between the government and enterprises, according to Zhang.

Any form of secessionist attempt by anyone at any time would surely be opposed by the whole Chinese people and nation, he added.

Another notable restaurant group that made its foray into Shanghai is Putien. The restaurant chain, which boasts having a Michelin star for its Kitchener Road outlet in Singapore, currently has seven branches in Shanghai. Renowned pork ribs soup restaurant Song Fa Bak Kut has also been steadily expanding its presence, with five outlets in prime locations.

Apart from constant backing from the government and universities, more investment from the private sector is needed to facilitate the manufacturing of Hong Kong's high-tech anti-epidemic products, say experts.